Auditing B Com Part 2 Guess Paper 2017

Auditing B Com Part 2 Guess Paper 2017

Note: (Auditing B Com Part 2 Guess Paper 2017) All published material contains an informatory data which is only gathered for educational purpose. These guesses are prepared after detailed analysis of past five years exams. Our entire team and/or publishers are not responsible in case of variation in assumed results and outcomes. However the purposes of attempted efforts are to provide accurate and effective knowledge to the readers, in any case our entire team and/or publishers will not be responsible for the accuracy or misusage of all published material.

Define investigation. How does it differ from audit? OR How would you investigate the accounts of a company behalf of a Bank considering granting loan?

Define Auditing. How it is different from the Accounting? OR Explain different types of Accounting Errors. How would you discover them? OR Define auditing. Also explain difference between auditing and accounting.

Define Interim Audit. Discuss its Merits and demerits. OR What is continuous audit? Give the advantages and disadvantages of continuous audit. OR What is meant by “FINAL AUDIT”? Explain its features, merits and demerits.

Explain the special points to be kept in mind during the audit of a sugar mill. OR Explain the special points to be kept in mind during the audit of an insurance company. OR Explain the special points to be kept in mind during the audit of a textile mill. OR Explain the special points to be kept in mind during the audit of a news paper company. OR Explain the special points to be kept in mind while examining the account of a hotel. OR Explain the special point to be kept in mind while examining the accounts of Cement Plant. OR What are the different points which required auditor’s attention while examining the accounts of Bank?

Define Prospectus Reports? What work is performed by the auditor in this regard? Also draft the specimen of a Prospectus Report. OR What is meant by statutory report. What are its contents and also give the specimen of such report. OR What is meant by an unqualified report? Give a specimen of such report after completing the annual audit of a public Ltd company. OR Explain the audit work required in connection with statutory report of a public Ltd. Company and outline the specimen of such report. OR What is an annual report? Also explain the audit work involved in the submission of such a report to the shareholder of a public Ltd. Company. OR Define unqualified, qualified, prospectus and statutory reports, what are the reasons / Circumstances under which these are given, and also give their specimens?

Briefly explain the auditor liability for negligence and criminal liability with the support of legal cases. OR Briefly explain the auditor’s liability for misfeasance and third party. Illustrate yours answer with the help of legal reference. OR Discuss Auditor’s liabilities towards his client with relevant case law. OR Explain criminal liability of a auditor prove your answer with case reference. OR What is liability for Negligence and Criminal of an Auditor? Prove your answer with case reference.

Define Internal Check. What steps would you suggest for a trading concern? OR Define internal control / internal check, what are its principles and objectives? OR Explain the terms internal check, internal audit & internal control. Suggest a suitable system of internal check over sales. OR Explain the basic principles of internal control to be followed in a manufacturing business. OR Define internal control. Suggest a suitable system of internal control over cash receipts and payments. OR Define internal control. Suggest a suitable system of internal control for a large scale department store.

Can the auditor be removed. If so what is the procedure of removal. OR Explain the legal provisions relating to appointment audit removal of auditor in Pakistan.

Under what circumstances an auditor would be held liable to third parties. Support your answer with relevant case law.

Define audit working papers. Explain the advantages of working paper. OR Define audit working papers, what are its contents and objective or importance?

Define an Auditor. How he is appointed. Discuss the qualification & Disqualification of an Auditor? OR Briefly explain the qualifications and disqualifications of an auditor of a public Ltd. Co.

Explain the concept of Audit and its objectives. OR What is an Audit program? Give its advantages & disadvantages and limitations.

Briefly discuss the rights and duties of an auditor. OR Explain the necessary information that the auditor must collect before commencing a new audit.

Define verification and elaborate its techniques. OR Define verification. Discuss in detail the techniques of verification. OR Explain in a comprehensive manner the techniques of verification.

What is meant by manipulation of accounts? What are its various means and how can it is discovered?

Briefly explain in the legal procedure to be followed for appointment of an auditor in a public ltd. Company. OR Explain the legal provisions governing the appointment of an auditor in a listed company.

What do you mean by commercial frauds? Explain its different kinds.

Explain in detail the “Techniques of vouching.” OR Define the vouching explain the main principals of vouching?

Describe the benefits of getting the account audited to the business itself and public at large.